HB 3174

Abstract

Amends the State Finance Act. Creates the Metropolitan Transit and Road Improvement Fund as a special fund in the State treasury. Provides that, beginning with fiscal year 2016 and thereafter, Road Fund moneys may not be appropriated to certain executive agencies. Prohibits certain transfers from the Road Fund or the State Construction Account Fund. Amends the Use Tax Act, the Service Use Tax Act, the Service Occupation Tax Act, and the Retailers' Occupation Tax Act. Provides that, beginning on July 1, 2015, motor fuel and gasohol must be taxed under the Acts at the rate of 1.25% (now, 6.25%). Amends the Motor Fuel Tax Law. Imposes an additional tax of $0.150 per gallon on motor fuel sold in the State. Provides that this additional tax must be adjusted each fiscal year to account for inflation. Provides that the proceeds of this additional tax must be deposited into the Metropolitan Transit and Road Improvement Fund and sets forth certain requirements regarding distributions from that Fund. Effective July 1, 2015.